Oklahoma drivers are enjoying low gasoline prices not seen for several years. But the other-shoe effect could begin to show up in potentially reduced state revenue numbers in February, state Treasurer Ken Miller cautioned Wednesday.

Attorney Jerry Fent filed a document with the Oklahoma Supreme Court Monday dismissing the lawsuit he filed in June challenging the constitutionality of a new law changing the way oil and natural gas production is taxed.

A proposal to increase Oklahoma's gross production tax rate on oil and natural gas wells to 2 percent for the first four years of production has the backing of three of the state's largest energy companies. It isn’t quite as popular with the state's smaller producers, however.

After a couple of years of spending federal stimulus dollars, employing temporary taxes, and using one-time funds to plug budget holes, states must first use the new revenue to backfill their budgets to break even for the coming fiscal year.